Used in organic synthesis, particularly in the development of pharmaceuticals and bioactive compounds. It serves as a key intermediate in the production of indole-based drugs, which are important in treating various diseases. The compound is also utilized in research for studying enzyme interactions and receptor binding due to its structural similarity to naturally occurring indoles. Additionally, it finds application in the synthesis of agrochemicals, contributing to the development of new pesticides and herbicides. Its iodine moiety makes it valuable in radiolabeling studies for tracking biochemical pathways.